This information relates to Viola Vacuum Co for the year ended December 31, 2017 The company tells you that Income from Continuing Operations PRE Taxes is $ 300,000 However, this amount was computed before the company considered these items (i e none of the items listed below are factored into the $300,000) Restructuring Costs incurred in 2017 were $25,000 When recording depreciation expense for the previous year (2016), they mistakenly recorded depreciation twice for the same asset The amount of the error was $15,000 after taxes The error had no effect on the amount of depreciation expense recorded in 2017 As a result of some stronger credit policies put in place in 2017, Viola Vacuum Co decided to reduce the percentage used in the calculation of bad debts expense from 2 of net sales to 1 5 of net sales These new percentages resulted in bad debt expense of $8,000 for the year ended 2017 ( Again, this change in estimate information is not included as part of the $300,000 above i e there is no bad debt expense included as part of the $300,000 amount ) On October 1, 2017, the company sold Division Q, a major component of the business which had been unprofitable for the past several years Viola Vacuum Co reported a loss of $20,000 on Division Q during the first 9 months of the year while it was still in operations They were able to sell the assets of the division before the end of 2017 However, the sale resulted in a loss of $40,000 Viola Vacuum Co incurred a loss from a write down of obsolete inventory of $10,000 during 2017 Gains on foreign currency exchange during 2017 were $20,000, which affects comprehensive income only 1 What is the correct amount that should appear on the Viola Vacuum Co income statement as Income from Continuing Operations before Taxes 2 Prepare the 2017 partial income statement for Viola Vacuum Co beginning with Income from Continuing Operations before Taxes GO ALL THE WAY THROUGH TO NET INCOME INCLUDE DISCONTINUED OPERATIONS, ETC Assume that your answer in part 1 above was $250,000 for purposes of this question Assume an income tax rate of 25 Do not complete the comprehensive income portion 3 Assuming there are $50,000 shares of common stock outstanding at year end, what is Viola Vacuum Co's net income per share (EPS) Show all work please

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This information relates to Viola Vacuum Co. for the year ended December 31, 2017: The company tells you that Income from Continuing Operations PRE Taxes

This information relates to Viola Vacuum Co. for the year ended December 31, 2017:

The company tells you that Income from Continuing Operations PRE Taxes is $ 300,000. However, this amount was computed before the company considered these items: (i.e. none of the items listed below are factored into the $300,000)

Restructuring Costs incurred in 2017 were $25,000
When recording depreciation expense for the previous year (2016), they mistakenly recorded depreciation twice for the same asset. The amount of the error was $15,000 after taxes. The error had no effect on the amount of depreciation expense recorded in 2017.
As a result of some stronger credit policies put in place in 2017, Viola Vacuum Co. decided to reduce the percentage used in the calculation of bad debts expense from 2% of net sales to 1.5% of net sales. These new percentages resulted in bad debt expense of $8,000 for the year-ended 2017. (Again, this change in estimate information is not included as part of the $300,000 above. i.e. there is no bad debt expense included as part of the $300,000 amount.)
On October 1, 2017, the company sold Division Q, a major component of the business which had been unprofitable for the past several years. Viola Vacuum Co. reported a loss of $20,000 on Division Q during the first 9 months of the year while it was still in operations. They were able to sell the assets of the division before the end of 2017. However, the sale resulted in a loss of $40,000.
Viola Vacuum Co. incurred a loss from a write-down of obsolete inventory of $10,000 during 2017.
Gains on foreign currency exchange during 2017 were $20,000, which affects comprehensive income only.

1. What is the correct amount that should appear on the Viola Vacuum Co. income statement as "Income from Continuing Operations before Taxes"?

2. Prepare the 2017 partial income statement for Viola Vacuum Co. beginning with "Income from Continuing Operations before Taxes". GO ALL THE WAY THROUGH TO NET INCOME. INCLUDE DISCONTINUED OPERATIONS, ETC. Assume that your answer in part 1 above was $250,000 for purposes of this question. Assume an income tax rate of 25%. Do not complete the comprehensive income portion.

3. Assuming there are $50,000 shares of common stock outstanding at year-end, what is Viola Vacuum Co's net income per share (EPS)?

Show all work please.